Blog
Writing on how this category actually works.
Longer-form pieces on the operational risks underneath custody, stablecoins, tokenization, on-chain credit, and bridging — the patterns we see repeat across audits, the things the industry narrative gets wrong, and the questions sophisticated buyers should be asking their providers.
We're migrating our long-form archive over from Substack. In the meantime, everything we've published lives there — including the three pieces most useful for understanding how we think:
Have a question the archive doesn't answer?
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